GBP/USD: A break below 1.3965 risks a slide to 1.3920/10

Jason Sen DayTradeIdeas.co.uk

GBP/USD, EUR/GBP, GBP/NZD

GBPUSD beat strong resistance at 1.3800/1.3820 to target strong resistance at 1.3880/90 but continued higher to the next target of 1.3955/75.

EURGBP collapsed to the first support at 8625/20 & bounced back to 8650/60. We then crashed from 8670 to 8595/90.

GBPNZD rocketed off the 100-day moving average support at 1.9170 beatings minor resistance at 1.9355/65 to hit our next targets of 1.9410/30 & 1.9480/1.9500. We topped exactly here.

Daily analysis

GBPUSD straight through 1.3880/90 to the next target of 1.3955/75 as we look for a test of resistance at 1.4015/25.

A break above 1.4035 targets 1.4050/55 & 1.4080. A break below 1.3965 risks a slide to 1.3920/10.

EURGBP holding strong support at 8595/90 targets 8625/30. Strong resistance at 8660/65.

Strong support at 8595/90 but below 8585 can target 8565/60.

GBPNZD topped exactly at the upper target of 1.9480/1.9500. First support at 1.9375/65. 2nd support at 1.9330/20.

Minor resistance at 1.9420/30 before a retest of strong resistance at 1.9490/1.9500. A break above 1.9510 opens the door to very strong resistance at 1.9565/75. Shorts need stops above 1.9590.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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